Verity Credit Union

Location Seattle, Washington, United States
Key figures Impact story


Verity’s mission is to enhance members’ lives by creating trusted relationships, empower their financial lives, and promote strong and viable communities. At the core of our interactions we focus on truth.  The word “verity” means truth, and we approach everything from a point of honesty and transparency.

We will always be genuine and authentic, engaging in truthful interactions for the betterment of our communities, the people there, and their collective well-being.  We know that truth, honesty, and lifelong learning are at the heart of solid relationships with our membership.  Through constant dialogue with our members and our communities, we continue to deepen our understanding of what is true and how we can live our mission and move toward our vision of collaborative communities who dream boldly.


Verity Credit Union has a long history in Washington, where it was first chartered in 1933 as Postal Workers Credit Union #8. Though we’ve had a few names over the years, we consistently served government employees as part of our original field of membership.  With the expansion of serving anyone who lives, works or worships in Washington, we changed our name to Verity in 2003 to mark the transition of a new era.

Since our founding, Verity has embodied the credit union cooperative principles.  We are there for our members when they need us. For much of our existence this has meant providing support for our members when they faced challenging situations, such as government shutdown or layoffs.  When the recession impacted our members, Verity brought financial counselors on staff to provide much needed service (and hope) to our members who were struggling to navigate this time. We continue to look for, and act in, ways to serve as trusted advisors for our members.

Verity’s current assets exceed $500 million, classifying us as a mid-size credit union.  We provide all the same product and service offerings of a large institution, while remaining personable. We offer full service branches around Puget Sound, plus full service mortgage and investment services.


Verity is a not-for-profit financial cooperative 100% owned by our 30,000 members. We are guided by a volunteer board of directors and supervisory committee who ensure that the actions of the credit union are both financially sound and in alignment with our mission and values.  Our management and board of directors are easy accessible to members—members have a voice that is heard. Since there are no stockholders, Verity directs all “profits” toward providing better products, services and rates for members.

At Verity, we do things a little different—we do things the Verity Way.  That means we strive to make it easy to do business. We work to resolve issues for our member-owners both operationally and emotionally. We look to find a way to say “yes” to our members, while valuing their time. Making financial issues simple to understand and avoiding complex language are important factors in how we approach our members, as is protecting our members’ confidence. Overall, when we work with a member we take the necessary steps to own the relationship and move the member forward in every possible way.

Board of Management

John Zmolek, Chief Executive Officer

Zachary S. Gose, Board Chair

Market Focus, Products and Services

Credit unions began as a way for local communities to band together for the good of the group.  We’re getting back to those roots.  We invest our time and resources in the neighborhoods where we have branches.  We approach marketing at a micro-community level, focusing on the neighborhoods surrounding our branches.  At Verity, it isn’t about being as big as possible—it’s about doing our best for our members and helping our communities grow and thrive.

Like most other financial institutions, we offer a broad spectrum of deposit and loan products, as well as everyday financial management services.  Based on our commitment to the community, Verity also strives to develop and offer products that meet our members’ needs and reflect our mission and values.  For example, Verity’s Sustainable Lending program features partnerships with solar panel contractors, bicycle shops and auto dealerships, to assist members with the costs of solar home energy systems, bicycles, and fuel efficient vehicles.

Verity has a unique partnership with Business Impact Northwest, a non-profit economic development organization created to serve under-banked entrepreneurs by providing access to capital and comprehensive business technical assistance.  Verity, along with two other local credit unions, provides funding for micro-loans through BIN. The University of Washington Foster School of Business students join the group to provide consulting to small businesses and non-profits.


Key figures for Verity Credit Union

* Figures in USD million
** Based on local currency
Total Assets587527504480445
Funds Under Management00000
Total Assets and Funds Under Management587527504480445
Total Assets and FUM Growth (One Year)**11.28%4.70%4.93%7.88%5.43%
Loans (net)460399353327318
Loans to Total Assets78.3%75.6%70.0%68.1%71.4%
Loan Growth (One Year)**15.35%13.06%7.90%2.78%8.47%
Client Funding483460439403372
Client Funding to Total Assets82.4%87.1%87.1%83.9%83.7%
Client Funding Growth (One Year)**5.19%4.78%8.88%8.19%3.87%
Equity to Total Assets8.9%9.0%8.9%9.2%9.2%
Tier 1 Capital RatioNANANANANA
Total Revenue31.
Net Income3.
Return on Assets0.61%0.49%0.25%0.63%0.71%
Return on Equity6.80%4.78%2.71%6.86%7.97%
Cost to Income Ratio83.6%84.3%88.7%82.8%81.7%